Racism, Equality, & Restarting our Economy

To actively address this, PIDC is approaching our COVID-19 economic recovery strategies through the lens of our vision for a Philadelphia economy that is growing, diversified, and inclusive in order to achieve a high quality of life for all those who live and work here. While our economic progress can be measured in numbers, the ultimate focus of that vision is on the people of our city. 

Our COVID-19 recovery strategies put our community’s health and safety at the forefront, ensure that we understand the needs and act quickly to address market gaps, and prioritize diversity, equity, and inclusion throughout the process. 

ECONOMIC RECOVERY PLAN

Working in partnership with the City of Philadelphia Department of Commerce and Philadelphia Works, we have jointly identified four phases of work to drive an equitable economic recovery in Philadelphia:
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1. RESPOND

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Deliver resources to the most vulnerable businesses and communities and maximize opportunities to sustain employment. Provide immediate relief to businesses in a transparent and efficient way.
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2. RESTART

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Build confidence in the market to drive demand and support businesses seeking to adapt to new conditions. Provide clear, actionable guidance and critical resources to businesses seeking to re-open.
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3. RECHARGE

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Regain the momentum we lost by positioning businesses for growth. Identify and develop new opportunities to drive local business demand and build greater resilience among our most vulnerable businesses and communities.
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4. REIMAGINE

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Seize bold opportunities that may have never seemed possible, amplifying our strengths and ensuring equitable growth for the future. Reimagine and reinvent the industries and jobs of the future in ways that increase access and opportunity for all.
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RESTART ACTION PLAN

PIDC’s RESTART Action Plan focuses on how we are adapting our three core strategies below to meet Philadelphia’s needs to drive an equitable economic recovery and “Reopen with Care” at this critical time.

Our three core strategies are:
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Support Growth & Resilience of Businesses

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PIDC finances growing businesses of all sizes across all industry sectors and delivers business support services to increase the capacity and resilience of diverse entrepreneurs throughout Philadelphia. These resources generate wealth, build equity and ownership, create and sustain jobs, and stabilize neighborhoods.
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Invest in High-impact Community Revitalization

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PIDC invests in real estate projects that create good jobs, provide essential goods and services, and stimulate additional investment in our neighborhoods. These projects increase economic activity, improve quality of life, and strengthen communities throughout Philadelphia.
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Catalyze Opportunities for Inclusive Growth

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PIDC repositions underutilized land and buildings into productive uses and capitalizes on new market opportunities that will foster a growing, diversified, inclusive economy in Philadelphia. These investments attract and retain businesses and talent, create opportunities for innovation, leverage public assets, and encourage future investment.
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READ THE FULL ACTION PLAN

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Check out our RESTART Action Plan for more details on how we will continue to respond to the needs of our community.  We welcome new ideas and opportunities for partnership.
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READ MORE OF OUR THOUGHTS ON RACISM, EQUALITY, & RESTARTING OUR ECONOMY

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READ MORE ABOUT PHILADELPHIA’S BROADER PLAN FOR INCLUSIVE ECONOMIC RECOVER

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Philadelphia’s full Economic Recovery Plan, which includes PIDC’s RESTART Action Plan, is based upon a broader recovery framework set by the City of Philadelphia. The City’s Economic Recovery Plan provides strategic, sustained solutions to address problems caused, or in many cases exacerbated, by the pandemic.

Learn More
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